India Received $63 Billion in Remittances in 2016, Half of it From 5 Muslim Nations

NEW DELHI: Remittances from Indian workforce in five Muslim countries accounted for more than half of the total remittances that the country received from abroad in 2016. More than $62.74 billion (USD) in remittances was sent to India from other countries in 2016 – $33.67 billion came from five Arab nations alone, reveals a World Bank report.

With $12.57 billion, United Arab Emirates (UAE) topped the list of 135 countries from where $10 lakh or more in remittances came to India in 2016. Other four Muslim nations from where big remittances came were Saudi Arabia ($10.22 billion), Kuwait ($4.17 billion), Qatar ($3.76 billion) and Oman ($2.95 billion).

Of the $62.74 billion that India got in remittances from its workforce scattered in the world, $55 billion came from 10 countries including five Muslim countries. Other five were United States ($10.65 billion), United Kingdom ($3.58 billion), Nepal ($2.74 billion), Canada ($2.61 billion) and Australia ($1.76 billion).

Worldwide, an estimated $574 billion (USD) was sent by migrants to relatives in their home countries in 2016.